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Patanjali Foods Q2 results: Net profit down 31.6% YoY to Rs 112.3 crore

Patanjali Meals, Baba Ramdev-backed FMCG firm, reported a 31.6 per cent decline in internet revenue to Rs 112.2 crore within the quarter that ended September 30, 2022 (Q2 FY23) , towards Rs 164.3 crore registered in the identical quarter final 12 months (Q2 FY22).

The corporate stated in an change submitting that its working income elevated 42 per cent to Rs 8,514 crore from Rs 5,995 crore in the identical quarter final 12 months.

Whole earnings for the quarter was Rs 8,524 crore, up 41.82 per cent from Rs 6,010 crore in Q1 FY22.

The FMCG firm’s EBITDA (Earnings earlier than curiosity, taxes, depreciation, and amortization) for the three months ending September 30, 2022, was Rs 205.15 crores, with Rs 153.63 crores of Revenue Earlier than Tax.

The meals section generated income of Rs 2,399.66 crores, or 37.18 per cent of the corporate’s whole branded gross sales. Branded gross sales, which embrace the institutional section, generated gross sales of Rs 6,453.45 crores, accounting for 77.02 per cent of the corporate’s general product gross sales throughout that point.

By way of profitability, Patanjali Meals reported that the edible oil market confronted quite a few challenges through the quarter. Edible oil costs fell considerably through the quarter because of macro elements affecting the demand-supply dynamic within the trade.

Commenting on its efficiency through the quarter, it claimed that regardless of working in a troublesome shopper atmosphere with a risky, downward worth regime, the corporate confirmed a sustained efficiency.

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